Forex Previews

Fed minutes & Jackson Hole may pull dollar in opposite directions – Forex News Preview

Posted on August 20, 2019 at 11:50 am GMT

It will be a decisive week for the US dollar, with the minutes of the latest Fed meeting being released on Wednesday (18:00 GMT), before Fed chief Jay Powell delivers remarks at the Jackson Hole symposium on Friday (14:00 GMT). Since the minutes won’t reflect the latest escalation in trade, they could appear slightly hawkish relative to current market pricing, lifting the dollar. Any gains may remain short-lived though, if Powell opens the door for a prolonged easing cycle. Market [..]

Canadian CPI and retail sales data unlikely to halt BoC rate cut bets as yields invert – Forex News Preview

Posted on August 19, 2019 at 2:25 pm GMT

Canada is not synonymous with the trade war and economic slowdown and yet markets are giving warning signs that the country is headed for a recession. Recent economic indicators have been largely encouraging, pointing to accelerated growth. This week’s upcoming data on inflation (Wednesday, 12:30 GMT) and retail sales (Friday, 12:30 GMT) are expected to be consistent with this trend. And yet the Canadian dollar is hovering near two-month lows versus the greenback on market bets that the Bank of [..]

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Week Ahead – Fed minutes and Jackson Hole eyed for policy direction; ECB minutes and Eurozone PMIs also in focus

Posted on August 16, 2019 at 10:47 am GMT

The summer lull will continue into next week as economic releases will remain sparse. However, central bank minutes and the annual gathering of central bankers at the Jackson Hole Economic Symposium should generate plenty of headlines ahead of expected policy easings in September. Trade and geopolitical tensions will also come to the fore as world leaders attend a G7 summit in France. Aussie and kiwi to remain on the backfoot The Australian and New Zealand dollars have managed to steady [..]

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Australian jobs data to be eyed for “turning point”, as aussie stumbles to 10-year lows – Forex News Preview

Posted on August 13, 2019 at 6:23 am GMT

Wage and employment data will be watched out of Australia this week as investors try to guess how many more rate cuts are on the cards for the rest of the year. The wage price index is released first on Wednesday at 01:30 GMT, with the employment numbers coming up on Thursday, also at 01:30 GMT. Given the huge weighting the Reserve Bank of Australia is attaching to developments in the labour market in setting monetary policy, the upcoming data [..]

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US data may not save the dollar this week – Forex News Preview

Posted on August 12, 2019 at 3:03 pm GMT

The US consumer price index, retail sales and industrial production are all scheduled for release this week but whatever the actual results are the markets will keep the odds for a September rate cut high as the US-Sino trade trouble looks irreversible in the year ahead. Instead, the question should be how aggressively the Fed should act to balance the economy. The Consumer Price Index (CPI) for the month of July will come first into view on Tuesday at 1230 [..]

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China’s monthly data to reveal impact of trade fallout – Forex News Preview

Posted on August 12, 2019 at 2:22 pm GMT

The world’s second-largest economy reports retail sales, industrial production, and fixed asset investment data early on Wednesday. Forecasts point to a slowdown in most figures, which if met, could signal that the trade war has truly started to inflict pain – despite substantial stimulus. Alongside the yuan, the China-sensitive aussie will also keep an eye on these prints, though the bigger driver for both will probably be what happens next in the trade saga. China’s economy probably lost steam at [..]

UK data to struggle to lift pound as speculation of snap election heats up – Forex News Preview

Posted on August 9, 2019 at 12:29 pm GMT

A raft of data is due out of the UK next week, but with key Brexit dates coming up in September and October, investors will likely ignore the usually closely watched indicators. Nevertheless, the releases may provide some near-term support for the battered pound, starting with jobs numbers on Tuesday, followed by inflation on Wednesday and retail sales on Thursday, all due at 08:30 GMT.   UK labour market to remain tight Although Britain’s labour market has cooled somewhat in recent [..]

Week ahead – Markets set to quiet down, despite tug of trade war

Posted on August 9, 2019 at 12:00 pm GMT

It may be a quiet week in financial markets, with no central bank meetings or any other major events on the agenda, as the summer lull finally kicks in. Economic data will therefore attract most of the attention, though any tweets on the trade war or Brexit news could always stir things up. British data unlikely to be a game-changer for the pummeled pound The UK economy continues to feel the heat, with GDP growth contracting in Q2, as Brexit [..]

Canadian employment to rebound in July, but might not halt loonie’s slide – Forex News Preview

Posted on August 8, 2019 at 10:30 am GMT

Employment numbers out of Canada will be in focus on Friday at 12:30 GMT. As most other central banks rush to join the global rate cut frenzy, the jobs data will be watched closely for clues on whether the Bank of Canada is any closer to adopting an easing bias. However, despite the Bank of Canada’s neutral stance looking increasingly out of step with the rest of the world, the Canadian dollar has been on the slide since late July, [..]

British GDP data unlikely to rescue the Brexit-battered pound – Forex News Preview

Posted on August 7, 2019 at 1:51 pm GMT

The first estimate of UK GDP for Q2 is due at 08:30 GMT on Friday, with forecasts pointing to a stagnation in growth. If confirmed, that could raise the pressure on the BoE to abandon its tightening plans soon. As for the pound, the outlook remains negative as long as PM Johnson plays ‘chicken’ with Brussels, threatening a no-deal Brexit to extract concessions. For the tide to turn, markets may need signals for a General Election, which won’t come for [..]

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